Should you buy or sell property in the USA online? Much of the talk that comes from the United States is about politics, about who said what on President Donald Trump, the daily fights between Republicans Democrats and the general air of political instability and turbulence. But the fact is, the US economy has been doing very well indeed.
The United States is the strongest economy in the world right now. The US dollar has been doing very well of late, as has been the stock market, which is hitting new highs every week. Unemployment is at a record low in the US, and consumer confidence is on the up.
What about the property market? The US housing market has never been as attractive as it is today. Home prices have been up by over 5 percent over the last 12 months, and things look better than ever for those who have property for sale in the USA.
There is a real demand from foreign investors to buy properties in the USA quickly. According to a study, the United States and Canada accounted for 45 percent of all international property transactions in 2016.
So clearly, a lot of wealthy international investors have been buying properties in the USA. The biggest interest comes from high net worth individuals from China and Hong Kong.
The Chinese are major buyers of US properties. They have invested heavily in New York, California and Florida. There is a lot of money in China, which is the fastest growing country in the world. China has a large wealthy population who are keen to have at least some presence in the USA. Most upper class Chinese have children working or studying in the United States and hence there is this strong desire to move there as well.
Canadians are the biggest buyers of properties in the US after the Chinese. It is very easy for Canadian citizens to move to America. The two neighbours are similar in a lot of ways and have the same culture. With property prices in Canada shooting up, it makes sense for many to relocate to the US for better jobs and more money making opportunities.
Indians are major buyers of properties in America as well. Indian Americans are the best educated and richest community in the United States – at par with American Jews. So they tend to buy properties in comfortably middle class or upper class suburbs in California, New York and New Jersey.
Middle Eastern buyers or Arab buyers are heavily involved in the US property market as well. While the Middle East has a relatively small population, compared to countries like China and India, they have a much higher proportion of high net worth individuals, who are capable of spending big money on buying luxury homes and apartments in the US.
There is a large British expat community in the US, who are prominent buyers of properties here as well. Generally, British expats buy single-family homes in the suburbs and resort towns in America.